Today’s leading organizations are using machine learning-based tools to automate decision processes, and they’re starting to experiment with more-advanced uses of artificial intelligence (AI) for digital transformation. Corporate investment in artificial intelligence is predicted to triple in 2017, becoming a $100 billion market by 2025. Last year alone saw $5 billion in machine learning venture investment. In a recent survey, 30% of respondents predicted that AI will be the biggest disruptor to their industry in the next five years. This will no doubt have profound effects on the workplace.
Machine learning enables a company to reimagine end-to-end business processes with digital intelligence – and the potential is enormous. That’s why software vendors are investing heavily in adding AI to their existing applications and in creating net-new solutions.
But, at the same time, there are barriers to overcome. The most important is the availability of large quantities of high-quality data that can be used to train algorithms. In many organizations, the data isn’t in one place or in a usable format, or it contains biases that will lead to bad decisions.
Prepare for your business’s future by taking a look at some concrete examples of how AI and machine learning are creating value in companies today and which considerations should be addressed to fully realize them.